Ask Question
BusinessBusiness
20 June, 03:35

How will the general ledger accounts in the trial balance most likely differ if the company were a retail store rather than a wholesale company? how will they differ for a hospital or a government unit?

+3
Answers (1)
  1. 20 June, 06:29
    0
    How will the general ledger accounts in the trial balance most likely differ if the company were a retail store rather than a wholesale company?

    A general ledger account is used to record transactions that a company has. A trial balance has all of the general ledger accounts listed shows all of the debits and credits that a company has faced. A retail store will have smaller product transactions over a wholesale store due to the wholesale store selling in bulk. There will likely be more credits and debits for a retail store whereas a wholesale store may have more debits as they are less likely to have returns.

    How will they differ for a hospital or a government unit?

    A hospital or government unit will have vastly different general ledger reports due to the type of agency they are. These transactions will deal more with insurance or big dollar companies rather than individuals on a smaller scale. A trial balance is not a financial statement but it used to show balances that an organization has.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “How will the general ledger accounts in the trial balance most likely differ if the company were a retail store rather than a wholesale ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Your company is branching out into the developing world for the first time. You know that it could be challenging to use the firm's mail surveys in these countries. Among the relevant challenges, developing countries are commonly known to have: a.
Answers (1)
At the last team meeting both Shelia and Freddy showed up having erroneously accomplished the same task, which meant that one task was left undone. Both Shelia and Freddy were certain that they accomplished their assigned task.
Answers (1)
The temperature in Gavin's oven is a sinusoidal function of time. Gavin sets his oven so that it has a maximum tem - perature of 300◦F and a minimum tempera - ture of 240◦. Once the temperature hits 300◦, it takes 20 minutes before it is 300◦ again.
Answers (1)
True or False. The standminus-alone cost allocation method ranks the individual users of a cost object in order of users most responsible for a common cost and then uses these rankings to allocate the costs among the users.
Answers (1)
A company has $100,000 in "outstanding accounts receivable" and it uses the allowance method to account for uncollectible accounts. Experience suggests that 4% of outstanding receivables are uncollectible.
Answers (1)
New Questions in Business
One widespread trend under way in business today that will affect the goals of the organization you work for is: Select one: a. social intelligence b. new media adaptations c. an increased focus on ethical and socially responsible behavior d.
Answers (1)
A high-profile consulting company chooses its new entry-level employees from a pool of recent college graduates using a five-step interview process.
Answers (1)
Suppose the nominal annual interest rate on a two year loan is 8 percent and lenders expect inflation to be 5 percent in each of the two years. the annual real rate of interest is
Answers (1)
The producer of a downloadable antivirus software program spends exactly $2,650,000 producing the first copy and incurring various costs required to make the software "user-friendly.
Answers (1)
Which of the following items could be painted in a dark color to be on trend in 2020?
Answers (2)
Home » Business » How will the general ledger accounts in the trial balance most likely differ if the company were a retail store rather than a wholesale company? how will they differ for a hospital or a government unit?
Sign Up Forgot Password?